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      Question

      Consider the following statements regarding IndiaтАЩs

      Industrial Policy evolution: 1. The Industrial Policy Resolution of 1956 emphasized the commanding role of the private sector in core industries. 2. The 1991 Industrial Policy abolished industrial licensing for most sectors. 3. The 1991 policy led to the nationalization of several private enterprises. Which of the above statements is/are correct?
      A 1 only Correct Answer Incorrect Answer
      B 2 only Correct Answer Incorrect Answer
      C 1 and 3 only Correct Answer Incorrect Answer
      D 2 and 3 only Correct Answer Incorrect Answer
      E 1, 2 and 3 Correct Answer Incorrect Answer

      Solution

      Detailed Explanation: тАв Statement 1: Incorrect тАФ IPR 1956 assigned public sector dominance in core industries, not private. тАв Statement 2: Correct тАФ The 1991 reforms dismantled licensing (except in a few sectors like defense, atomic energy, etc.). тАв Statement 3: Incorrect тАФ It encouraged privatization, not nationalization.

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